Updated Condominium Income
For Sale
$239,038
4303 E Cactus Rd #314, Phoenix, AZ 85032
Renovated condominium with pool views, elevator access, covered parking, and extensive community amenities.
Property Size850 SF
Price / SF$281.22
Days on Market15
Property Features for 4303 E Cactus Rd #314
General Information
Standard status
Active
Size
850 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
pool
fitness center
clubhouse
Building Details
Year Built
1983
Listing Agency:
West Usa Realty
(602) 942-4200
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Sep 18
Changed: Oct 1
Last Checked: Oct 1 at 10:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of West Usa Realty
Investment Insights
Based on property information with market context.
This 850-square-foot condominium, built in 1983, has been refreshed with Taj Mahal quartz counters, custom cabinetry, wide-plank luxury vinyl flooring with sound-reducing underlayment, designer lighting, updated fixtures, fresh paint, and new baseboards. The residence overlooks the clubhouse and pool and includes elevator access within the building.
Community amenities include five pools, a fitness center, and a main clubhouse, with one pool positioned near the building. An assigned covered parking space sits directly below the entrance. The property is also near the Cactus Garden and a pedestrian path along Stone Creek Golf Course. A recently completed irrigation system serves the community.
Community amenities include five pools, a fitness center, and a main clubhouse, with one pool positioned near the building. An assigned covered parking space sits directly below the entrance. The property is also near the Cactus Garden and a pedestrian path along Stone Creek Golf Course. A recently completed irrigation system serves the community.
Key Highlights
- 850‑square‑foot condominium with updated interior finishes
- Taj Mahal quartz countertops and custom cabinetry
- Views of the clubhouse and pool
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,627
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$172,540
$172.5K
Cap Rate 7%
$123,243
$123.2K
Cap Rate 9%
$95,856
$95.9K
Market Conditions
NOI Build-Up for 850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.8K $19.80/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$15.7K $18.45/SF
− OpEx
−$7.1K −$8.30/SF
NOI
$8.6K $10.15/SF
Area
ZIP 85032
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$172,540
Cap Rate 7%
$123,243
Cap Rate 9%
$95,856
Alternative Uses
Best Use
Apartment 5plus
$123.2K
$107.8K – $143.8K
NOI $8,627 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,500
Businesses Nearby
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Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condominium with pool views, elevator access, covered parking, and extensive community amenities.
Where is this residential income property located?
The property is located at 4303 E Cactus Rd #314 Phoenix, AZ.
What is the asking price?
The asking price for this property is $239,038.
What are key features of this property?
This property features: 850‑square‑foot condominium with updated interior finishes; Taj Mahal quartz countertops and custom cabinetry; Views of the clubhouse and pool
